Iron-aluminide composites containing 30–90 vol. % carbides or borides can be processed to near full density (greater than 97% theoretical density). This wide range of ceramic contents enables the tailoring of the composite properties to a variety of applications requiring a combination of the corrosion and oxidation resistance of iron aluminides and the hardness and wear resistance of the ceramic phases. The composites are processed by conventional liquid-phase sintering of mixed powders as well as pressureless melt infiltration. Typical mechanical properties such as hardness, flexure strength, and fracture toughness were evaluated for composites containing different volume fractions of carbide or boride particulates. Furthermore, evaluations of the wear resistance, oxidation resistance, aqueous corrosion resistance, and thermal expansion of the iron-aluminide composites suggest many potential applications for these new materials.